Accounts - Principles of Accounts Questions
Question 2711:
The term posting in accounting refers to _____
- A Recording entries in the journal
- B Transferring the balances in the ledger to the trial balance
- C Tracing amounts from the journal to the ledger to find errors
- D Transferring entries to the ledger from the journal.
Question 2712:
Which of the following is not a real account?
- A Buildings account
- B Motor vehicle account
- C Patents account
- D Furniture account
Question 2713:
Which of the following is the basic accounting equation?
- A Assets = Capital + Liabilities
- B Capital = Assets + Liabilities
- C Liabilities = Assets + Capital
- D Assets = Liabilities - Equity
Question 2714:
Which of the following is not a revenue account?
- A Sales
- B Purchases
- C Discount received
- D Interest received
Question 2715:
A system where a separate cash book is maintained for small payments is ____
- A Single entry
- B Imprest
- C Float
- D Reimbursement